"Dream - The storm of layoffs (PHK) is still not fully over. The global tech giant, Intel, has announced it will lay off more than 15,000 of its employees. The chipmaker currently employs over 125,000 workers. Intel's management told The Verge that these layoffs are part of a cost-saving plan worth US$10 billion for the year 2025."

“Our Q2 financial performance was disappointing, even as we reached important milestones in product and process technology,” Gelsinger stated in the company’s press release. “Our revenue has not grown as expected, and we have not fully capitalized on great trends like AI,” he wrote in his employee memo.”

"Intel previously conducted massive layoffs in October 2022, when the company also announced it would cut costs between US$8 billion and US$10 billion each year until 2025. While the number of employees decreased by about 5 percent in 2023, from 131,900 employees to 124,800 employees. Then Intel began hiring again, reaching up to 130,700 employees as of March 30, 2024, according to its financial records."